Question: Current Attempt in Progress The following information is available for Splish Brothers Corporation for the year ended December 31, 2022: Collection of principal on long-term
Current Attempt in Progress The following information is available for Splish Brothers Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier $17,000 Acquisition of equipment for cash 10,500 Proceeds from the sale of long-term investment at book value 22,400 Issuance of common stock for cash 21,000 Depreciation expense 30,000 Redemption of bonds payable at carrying (book) value 30,000 Payment of cash dividends 7,700 Net income 34,900 Purchase of land by issuing bonds payable 42,500 In addition In addition, the following information is available from the comparative balance sheet for Splish Brothers at the end of 2022 and 2021: 2022 2021 Cash $166,900 $99,000 Accounts receivable (net) 33,400 15,700 Prepaid insurance 19,800 14,300 Total current assets $220,100 $129,000 Accounts payable $35,700 $19,900 Salaries and wages payable 6,100 7,900 Total current liabilities $41,800 $27,800 Prenare Solish Brothard Prepare Splish Brothers's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) SPLISH BROTHERS CORPORATION Statement of Cash Flows Adjustments to reconcile net income to
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